Berkshire Hathaway Inc. (BRK.B), Warren Buffett and Charlie Munger: Some Tough Love

Buffett on owning your actions
It’s your responsibility if you’re buying it. And there’s got to be a reason. And if you can’t state the reason, you shouldn’t buy it.

Finally, Buffett reminds us we need to take responsibility for the stocks we buy. More importantly, you should strive to really know every facet of the companies underneath those stocks.

If you can’t or simply don’t have the time to do adequate due diligence for your investments, maybe you’d be better off staying out of the market or, at the very least, buying a low-cost index fund to spread your risk.

Don’t be upset with Charlie and Uncle Warren for their harsh advice; in all seriousness, it’s for your own good.

Instead, heed their words. Trust me, you’ll thank them when you’re older.

The article Some Tough Love From Buffett and Munger originally appeared on Fool.com.

Fool contributor Steve Symington has no position in any stocks mentioned. The Motley Fool recommends Berkshire Hathaway. The Motley Fool owns shares of Berkshire Hathaway.

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